10 Cheap NYSE Stocks To Invest In Now

7. Johnson & Johnson (NYSE:JNJ)

Current Forward P/E as of December 16: 13.79

Number of Hedge Fund Holders: 81

Johnson & Johnson (NYSE:JNJ) is a diversified global healthcare leader with a presence across pharmaceuticals, medical devices, and consumer health. Its extensive product portfolio spans from everyday essentials like Band-Aids and Tylenol to advanced medical technologies and innovative prescription medications.

Its Innovative Medicine segment, focused on developing and delivering new medicines, demonstrated strong growth in Q3 2024, exceeding $14 billion in revenue for the second consecutive quarter. This was driven by the performance of 11 key brands that achieved double-digit growth. DARZALEX, a medication used to treat multiple myeloma by targeting a protein on cancer cells, became the first product in the company’s history to reach $3 billion in sales within a single quarter.

The segment’s success was also supported by a robust pipeline, with 5 major US and European approvals obtained during the quarter. These approvals included FDA approval of RYBREVANT plus LAZCLUZE for first-line treatment of EGFR-mutated advanced lung cancer and FDA approval of TREMFYA for active ulcerative colitis. With several innovative medicines currently in the filing and review process, each with the potential to generate $5 billion in peak-year sales, Johnson & Johnson (NYSE:JNJ) is confident in its near- and long-term growth trajectory.